RESTRUCTURING CHARGES

3 Months Ended

Mar. 28, 2020

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES

A summary of the restructuring reserve activity from December 28, 2019 to March 28, 2020 is as follows: 

(Millions of Dollars)	December 28, 2019		Net Additions		Usage			Currency		March 28, 2020
Severance and related costs	$	140.3	$	2.9	$	(27.8	)	$	1.7	$	117.1
Facility closures and asset impairments	7.5		1.0		(5.9		)	—		2.6
Total	$	147.8	$	3.9	$	(33.7	)	$	1.7	$	119.7

For the three months ended March 28, 2020, the Company recognized net restructuring charges of $3.9 million, primarily related to severance costs. The majority of the $119.7 million of reserves remaining as of March 28, 2020 is expected to be utilized within the next 12 months.

Segments: The $4 million of net restructuring charges for the three months ended March 28, 2020 includes: $1 million of net reversals pertaining to the Tools & Storage segment; $3 million of net charges pertaining to the Industrial segment; and $2 million of net charges pertaining to the Security segment.